The Bank of Japan sent tremors through capital markets as it announced a rate target increase for yield curve control, sending global bond yields soaring.
With the Bank of Japan trying yield curve control, negative GDP growth in the United States and cracks showing in the eurozone, bitcoin looks like a smart bet.
Bitcoin has no lender of last resort for those who take undue risks. Bitcoin’s recent leverage cleansing is par for the course for a truly scarce asset.
